Smart Home Market Revenue Poised for Significant Growth During the Forecast Period of 2021-2028

Rising need for energy efficiency in homes to minimize energy bills and carbon emissions and increasing government initiatives regarding green buildings are key factors driving global smart home market growth

Emergen research's Global Smart Home Market research study is a comprehensive compilation of insightful data on the Smart Home industry. The report conducts extensive research on the factors that have an impact on the expansion of the Smart Home market as well as the expansion of the industry. The report goes into great detail about the benefits and drawbacks of the pandemic for the Smart Home industry. The Smart Home industry's dynamics have changed as a result of economic volatility and disruptions to the supply chain. The report looks at how the pandemic affected the market's most important segments and regions. The report discusses the segmentation of the Smart Home Market and provides an in-depth description of the volume and valuation of the Smart Home Market. The Smart Home market scenario for the current period and the anticipated timeline from 2021 to 2028 are all covered in depth in this report. The Smart Home market report provides a comprehensive look at the past, present, and anticipated revenues for each industry vertical, segment, end-use industry, application, region, and industry vertical.

The global smart home market size is expected to reach USD 184.10 Billion in 2028 and register a steady CAGR over the forecast period, according to latest analysis by Emergen Research. Steady market revenue growth can be attributed to rising need for improved energy efficiency in homes to minimize energy bills and carbon emissions. Consumers are increasingly adopting smart home systems as these allow monitoring and control of energy usage more efficiently. Home automation systems allow homeowners to control their appliances with the help of smartphone apps and eliminate power consumption of unattended appliances and devices when not in use. The ability of home automation system to monitor electricity consumption helps in minimizing energy bills through more efficient usage of appliances. Precise control over heating and cooling of a home with a programmable smart thermostat is achieved through utilization of smart home technology. In addition, a home automation system helps in preventing hazards such as fires as it gives full control over the lighting and heating systems. Increasing adoption of smart appliances, which include smart air conditioners, smart refrigerators, and smart washing machines helps in attaining better energy efficiency. Rising need to minimize negative environmental effects and increase utilization of resources is increasing adoption of smart buildings. Increasing government initiatives for smart city projects and green buildings is expected to further drive growth of the smart home market during the forecast period.

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The Smart Home research report also includes an insightful study of the prominent players of the industry along with their business overview, strategic planning, and business expansion plans adopted by them. This assists the readers and business owners in formulating strategic expansion and investment plans. The report focuses on mergers and acquisitions, joint ventures, collaborations, partnerships, corporate and government deals, and others. The report also talks about the expansions these prominent players are vying for in the key regions of the market. The report focuses on the detailed analysis of the technological and product developments undertaken by these companies.

The report further sheds light on the emerging growth opportunities, challenges, market threats, limitations, and factors likely to restrict the growth of the Smart Home market. The report further discusses in detail the market in international waters and the emerging trends in those regions. It also offers insights into the competitive landscape, market drivers, industrial scenario, and the latest product and technological developments to offer a comprehensive overview of the Smart Home market landscape.

The key companies studied in the report are:

Honeywell, Siemens, Johnson Controls, Schneider Electric, Amazon, Apple Inc., ADT Security Services, Robert Bosch, Assa Abloy, and ABB

On the basis of regional analysis, the market is segmented into the following regions: North America, Latin America, Europe, Asia Pacific, and Middle East Africa. The market is expected to be dominated by North American nations closely followed by European countries. Asia Pacific is expected to show a significant growth owing to recent advancements and rising investments in the RD sector.

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In addition, the analytical data are presented in a well-organized format in the form of charts, tables, graphs, figures, and diagrams in the report. This makes it easier for readers to comprehend the market scenario in a beneficial way. In addition, the report aims to provide a forward-looking perspective and an instructive conclusion to assist the reader in making profitable business decisions. The report concludes with a comprehensive SWOT and Porter's Five Forces analysis of the segments anticipated to dominate the market, regional bifurcation, estimated market size and share, and more.

On the basis of type, the market is segmented into

  • Software and Service Outlook (Revenue, USD Billion; 2018–2028)

    • Behavioral
    • Proactive
  • Product Outlook (Revenue, USD Billion; 2018–2028)

    • Energy Management
    • Lighting Systems
    • Security Surveillance
    • HVAC Control
    • Entertainment Control
    • Others 
  • Regional Outlook (Revenue, USD Billion; 2018–2028)

    • North America
      1. U.S.
      2. Canada
      3. Mexico
    • Europe
      1. Germany
      2. France
      3. U.K.
      4. BENELUX
      5. Italy
      6. Spain
      7. Rest of Europe
    • Asia Pacific
      1. China
      2. Japan
      3. South Korea
      4. India
      5. Rest of APAC
    • Latin America
      1. Brazil
      2. Rest of LATAM
    • Middle East Africa
      1. Saudi Arabia
      2. UAE
      3. South Africa
      4. Rest of MEA

The report addresses the following key points:

  • The report estimates the expected market size from 2020-2027
  • Extensive competitive landscape mapping with profiles of the key competitors
  • In-depth analysis of business strategies and collaborations such as mergers and acquisitions adopted by the key companies
  • Revenue forecast, country scope, application insights, and product insights
  • The report provides a forecast of market drivers, restraints, and future opportunities for the Smart Home market
  • The report further analyses the changing market dynamics
  • Regional analysis and segmentation of the market with analysis of the regions and segments expected to dominate the market growth

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